Carnival PLC (LSE:CCL) has announced record revenue over the year as strong appetite for travel buoyed demand for its cruises.
Revenue for the full year jumped by 77% to US$21.6 billion, Carnival reported on Thursday, as the company outperformed previous years in each quarter.
Adjusted pre-tax earnings were in line with guidance at US$4.2 and up on 2022’s US$1.7 billion loss.
"We ended the year on a high note with another record-breaking quarter that exceeded expectations and achieved positive full year adjusted net income,” chief executive Josh Weinstein commented.
“In fact, we consistently outperformed in all four quarters of the year, buoyed by a strengthening demand environment across all our brands.”
Cash from operations came in at US$4.3 billion, up on a US$1.7 billion loss, while adjusted free cash flow sat at US$2.1 billion at the year end, compared to 2022’s US$3.5 billion loss.
For the fourth quarter, revenue topped US$5.4 billion - aided by bookings during the two weeks around Black Friday - helping adjusted pre-tax earnings to US$946 million.
“We continue to experience strong bookings momentum across the board,” Weinstein added, “with our European brands showing remarkable strength”.
Looking ahead, Carnival guided toward pre-tax earnings of US$5.6 billion for 2024, which would mark a 30% rise on this year’s results.
Shares climbed 2.35% to 18.87p on the news.